| My Company and Subsidiaries | |||||||
| Consolidated Balance Sheet | |||||||
| (Unaudited) | |||||||
| (Dollars in millions, except per share amount) | June 30 | Dec. 31 | |||||
| 2009 | 2008 | ||||||
| Assets | |||||||
| Current assets | |||||||
| Cash and cash equivalents | $ | 2,596 | $ | 1,849 | |||
| Marketable securities – current | 378 | 373 | |||||
| Accounts receivable – net | 3,456 | 3,195 | |||||
| Inventories | |||||||
| Finished goods | 1,245 | 1,505 | |||||
| Work in process | 803 | 851 | |||||
| Raw materials and supplies | 553 | 657 | |||||
| Total inventories | 2,601 | 3,013 | |||||
| Other current assets | 867 | 1,168 | |||||
| Total current assets | 9,898 | 9,598 | |||||
| Marketable securities – non-current | 307 | 352 | |||||
| Investments | 106 | 111 | |||||
| Property, plant and equipment | 19,187 | 18,812 | |||||
| Less: Accumulated depreciation | (12,288 | ) | (11,926 | ) | |||
| Property, plant and equipment – net | 6,899 | 6,886 | |||||
| Goodwill | 5,734 | 5,753 | |||||
| Intangible assets – net | 1,386 | 1,398 | |||||
| Prepaid pension benefits | 39 | 36 | |||||
| Other assets | 1,726 | 1,659 | |||||
| Total assets | $ | 26,095 | $ | 25,793 | |||
| Liabilities | |||||||
| Current liabilities | |||||||
| Short-term borrowings and current portion of long-term debt | $ | 908 | $ | 1,552 | |||
| Accounts payable | 1,243 | 1,301 | |||||
| Accrued payroll | 615 | 644 | |||||
| Accrued income taxes | 501 | 350 | |||||
| Other current liabilities | 2,051 | 1,992 | |||||
| Total current liabilities | 5,318 | 5,839 | |||||
| Long-term debt | 5,172 | 5,166 | |||||
| Pension and postretirement benefits | 2,763 | 2,847 | |||||
| Other liabilities | 1,621 | 1,637 | |||||
| Total liabilities | $ | 14,874 | $ | 15,489 | |||
| Commitments and contingencies (Note 11) | |||||||
| Equity | |||||||
| My CompanyCompany shareholders’ equity: | |||||||
| Common stock par value, $.01 par value, 944,033,056 shares issued | $ | 9 | $ | 9 | |||
| Additional paid-in capital | 3,133 | 3,006 | |||||
| Retained earnings | 22,707 | 22,227 | |||||
| Treasury stock, at cost; 245,712,394 shares at June 30, 2009; 250,489,769 shares at Dec. 31, 2008 | (11,341 | ) | (11,676 | ) | |||
| Unearned compensation | (22 | ) | (40 | ) | |||
| Accumulated other comprehensive income (loss) | (3,683 | ) | (3,646 | ) | |||
| Total My CompanyCompany shareholders’ equity | 10,803 | 9,880 | |||||
| Noncontrolling interest | 418 | 424 | |||||
| Total equity | 11,221 | 10,304 | |||||
| Total liabilities and equity | $ | 26,095 | $ | 25,793 | |||
| The accompanying Notes to Consolidated Financial Statements are an integral part of this statement. | |||||||